The last e-auction for BDA plots in July 2020 starts on July 20, 2020. The BDA has requested an e-auction for free corner locations, and the bidding starts on July 20, 2020 with the Bengaluru Development Authority (BDA) has the auction of the BDA corner sites from July 20, 2020 to the end on various dates.
Keep in mind that these sites are corner locations, so the price is obviously a bit higher than normal sites. However, buying bids can be advantageous compared to buying from owners or middlemen. Since you buy directly from BDA, there are no documentation problems and, as far as I know, the price can be slightly lower than when buying directly from the owners. However, the price in turn varies depending on supply and demand.
BDA has created more than 60 layouts in Bangalore so far. Bangalore BDA maintains a ranking list of applicants who have applied for locations in BDA layouts. After creating a layout, BDA generally allocates the parcels based on certain criteria and the lottery system. The e-auction process is different. Any Indian citizen can request an auction. There is no lottery system. The highest bidder of a particular property wins the auction.
Latest BDA Plots e-auction July 2020
Previously, the BDA had successfully carried out an electronic auction for around 200 corner locations in the first phase from June to July 2020. The e-auctions for websites at HSR Layout, Sir M. Visvesvaraya Layout, Banashankari, NGEF, JP Nagar and Rajajinagar. The response was overwhelming even in such an economic downtrend.
On this occasion, the BDA again requested the auction of corner locations from July 20, 2020.
The website e-auctions will take place from July 20, 2020 at Sir M. Visvesvaraya Layout, Banashankari and Anjanapura.
The last date in which interest in participating is expressed is from August 6, 2020 to August 11, 2020 and The final date for the end of the e-auction is August 7, 2020 until August 12, 2020, depending on the location.
You can download the latest BDA land e-auctions from July to August 2020.
Terms and Conditions for the latest BDA Plots e-auction July – August 2020
# The person applying for Auctoin should be an Indian citizen.
# The initial bid deposit (EMD) is Rs. 4,000,000 per site along with the cost of the electronic auction (it will be refunded if the site is not bid).
# The successful bidder must transfer 25% of the auction amount within 3 days (excluding Rs. 4.00,000 EMD).
# The remaining 75% of ownership should be payable within 45 days of the date of receipt of the letter from BDA regarding the allotment.
Why do you need to search for this latest BDA lot e-auction from July to August 2020?
- The whole process is online. However, we cannot deny 100% transparency, as is claimed.
- You can view the bid prices specified by the other bidders on the screen.
- The majority of the properties offered are corner plots.
- BDA layouts are comparatively well developed and have a good infrastructure. They have developed street, sanitary, water and park facilities in many places.
- Getting credit for such real estate is very easy.
- You can save on middleman costs through the electronic auction.
- Reselling is easy because such websites are rated as very popular compared to layouts developed by private players.
- I am FINALLY also a resident of BDA Layout. I currently live in the 5th block of SMV Layout, which in my opinion costs the highest of all SMV layouts, but is worth buying considering the development of the layout.
Latest BDA Plots e-auction July – August 2020 – How do I apply?
You can view the complete process explained. Download the process details to request the e-auction for the latest BDA properties from July to August 2020.
You can also download the Geotag E-Auction Notification Sites.
Latest BDA Plots e-auction July – August 2020 – is it worth it?
Yes, given the following points, I suggest that you can apply BDA e-auction.
# Documents are clean and no legal problems.
# Layouts are well developed with water, roads, plumbing, location for park marked.
# You can avoid the middlemen by choosing this process.
# Easy credit availability.
# Easy to sell if you want to sell it.
Conclusion: -I am the resident of 5th Block SMV Layout. I say that if you are really looking for locations in Bangalore, it’s worth running an e-auction. However, bidding depends on supply and demand. Therefore, also pay attention to your budget. I only suggest this if you have a plan to buy and build a house for your residential use. Remember that everything you pay for in this auction is WHITE money. So be careful when buying. You may need to provide the source of funding for this investment if you are interviewed by the IT department in the future.
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